Global Portable Buildings Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Portable Buildings Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Portable Buildings refer to a portable, demountable or transportable building is a building designed and built to be movable rather than permanently located. Portable buildings (e.g. yurts) have been used since prehistoric times. Many modern types of portable buildings are designed so that they can be carried to or from the site on a large lorry and slung on and off by a crane. A common modern design is sometimes called a modular building, but portable buildings can be different in that they are more often used temporarily and taken away later.

Portable Buildings are designed to be reused or repurposed multiple times and transported to different building sites. They are utilized for schools, construction site offices, medical clinics, sales centers, and in any application where a portable building can meet a temporary space need. These buildings offer fast delivery, ease of relocation, low-cost reconfiguration, accelerated depreciation schedules and enormous flexibility. Portable Buildings are not permanently affixed to real estate but are installed in accordance with manufacturers installation guidelines and local code requirements. These buildings are essential in cases where speed, temporary space, and the ability to relocate are necessary.

Market Overview:

The latest research study on the global Portable Buildings market finds that the global Portable Buildings market reached a value of USD 48548.62 million in 2022. It’s expected that the market will achieve USD 75351.56 million by 2028, exhibiting a CAGR of 7.6% during the forecast period.

Influence of COVID-19 Outbreak on portable buildings Industry Development

During the epidemic, the resumption of work, operations, revenue targets, and industry development of the portable buildings industry were all challenge. With the outbreak of a global pandemic, many have faced salary cuts and job losses. Covid-19 has become a threat to the entire world's economy and has negatively impacted all kinds of markets, including the portable buildings market. With less disposable income, broken supply chains, and obstruction in construction activities due to lockdowns, the market's growth is expected to slow down.

First of all, marketing channel sales will be affected differently, the COVID-19 Outbreak has led to a decline in offline passenger flow, and the advantages of e-commerce companies have become prominent. During the epidemic prevention and control period, some portable buildings enterprises did not carry out internet marketing and promotion for their business, so they encountered great resistance in undertaking business. For enterprises that fail to make good use of network promotion means, there is almost no market development during the epidemic period, and the original offline market development plan is disrupted, and the epidemic will face fierce market homogenization competition, which is expected to have a great impact on the company's business throughout the year.

In addition, upstream and downstream interactions will lead to disruption of business. The epidemic will have a short-term impact on portable buildings industry, but it is relatively limited. The transportation of raw materials and products is restricted, resulting in an increase in product inventory and a decrease in equipment operating rate. Due to the impact of the epidemic, the production of raw materials and equipment procurement and transportation supply are difficult to be in place, and upstream enterprises affect the work schedule of downstream enterprises. Equipment manufacturing and product manufacturing enterprises in portable buildings industry are affected to different degrees, and the production and delivery work may be delayed to some extent. Meanwhile, if it fails to meet the customer's delivery time requirements according to the contract, it may lead to the customer looking for another enterprise and lose business.

Moreover, the COVID-19 virus outbreak has affected the normal operation of the industry. The impact of COVID-19 on the portable buildings industry will involve all major links and all entities in the industry chain. The company's management efficiency has declined, commuting has been severely hindered, production plans have been severely hindered, network expansion has been delayed, marketing has been delayed, brand adjustments have been forced, market sales have declined, and company and employee revenue have declined. The government has also put forward higher requirements for the production and operation of enterprises. Although various industries around the world are gradually resuming work, production and demand will not pick up rapidly and substantially, and will require a certain recovery period.

COVID-19 to impede Opportunities for New Construction Activities Owing to Reduced Investments. COVID-19 has caused considerable economic damage. The nationwide lockdown globally has halted construction and impacted the labor-intensive sector. This is due to the migrant workers being stranded at construction sites, and the halted construction activities are hampering the growth prospects across the world. s per the International Labor organization study, nearly 52%of labor absenteeism is observed in the Indian construction market, reducing the overall construction activities across the country. The emergence of the COVID-19 pandemic led to market uncertainty and volatility worldwide. Moreover, the stock market volatility worldwide has had an adverse impact on stock prices and trading volumes for manufacturers. This has resulted in a significant decline in new residential and non-residential constructions that has shrunk the demand for portable buildings. However, during the epidemic, with the increase in the number of infected people, the demand for portable emergency rooms and portable wards in the healthcare field has increased, which has stimulated the demand for portable buildings.

Market Drivers Analysis

Wide application
The market is currently being driven by its application in a number of industries such as education, healthcare, construction, offices, hotels, etc. The broad applicability of portable buildings in these industries is expected to result in its increasing growth over the forecast period.
Portable Buildings have a wide range of uses. Some examples of this are; site offices, classrooms, changing facilities, canteens, shops, clubrooms, marketing suites. Portable buildings are utilized to provide temporary accommodations for laborers at the worksite. Portable buildings are also utilized by a variety of end-users including local governments, industrial corporations, school boards, healthcare providers as makeshift offices, healthcare clinics, temporary hotels, and schools. One of a big market for portable buildings is temporary accommodation on industrial sites and construction, including event hire. Education and healthcare are also key areas of use. The uses for these structures vary, with operating theatres and wards being the largest temporary application in the healthcare sector. It is also partly down to a spike in demand in other sectors such as portable offices and the education sector seeing request for flexibility and affordability.

Off-site Manufacturing Techniques

A higher demand for site accommodation on major infrastructure projects is most likely to be sustained through 2022 and beyond. Due to the implementation of the governments Roads Investment Strategy and the continuation of Smart Motorways amongst other new developments, the need for portable buildings to be used as offices is forecast to grow. It wouldnt be surprising that this growth is likely to continue with further innovations and plans.

Region Overview:

North America was the largest revenue market with a market share of 40.30% in 2016 and 39.28%in 2020, a decrease of 1.02%. In 2021, the Europe market share was 28.60%, ranking second.

Company Overview:

The top three companies are Premier Portable Buildings, Pac-Van, NRB Modular Solutions with the revenue market share of 0.26%, 0.27%, 0.24% in 2020.

Premier Portable Buildings

Premier Portable Buildings is the North America's No.1 provider of portable buildings for all the storage needs. Premier Portable Buildings has partnered with over 30 manufacturing shops in North America, over 700 authorized dealer locations, and professional delivery personnel to bring the best portable buildings to people at the best prices.

Pac-Van

Pac-Van, Inc. leases and sells portable buildings and storage for non-residential use including modular office buildings, mobile offices, storage containers, steel frac tanks, prefabricated classrooms, event trailers and more.

Segmentation Overview:

Among different product types, Steel segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Storage segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Portable Buildings market covered in Chapter 3:

NRB Modular Solutions
EZ Portable Buildings
Premier Portable Buildings
Wilmot Modular
Universal Storage Containers
Guerdon Modular Buildings
Derksen Portable Buildings
Pac-Van
China Construction Integrated Building
BMarko Structures
CIMC
BOXX Modular
Falcon Structures
Palomar Modular Buildings

In Chapter 4 and Chapter 14.2, on the basis of types, the Portable Buildings market from 2018 to 2029 is primarily split into:

Timber
Steel

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Portable Buildings market from 2018 to 2029 covers:

Education
Healthcare
Construction
Offices
Hotels

Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)